Based on the Dec quarterly, cash will be down to ~$4mil by end of Mar qtr, ie cash backing per share of only 1.4cps.
The whole rights issue thing to fund Cornea/B-heart, with Artemis as the carrot, was a fizzer and cost Albers dearly. He participated in the RI at 18cps, plus he funded around 50% of B/heart and Cornea through his various unlisted entities, then weather delays caused cost blowouts. B/heart,dud. Artemis, dud. Cornea, technical success but needs a JV farminee with deep pockets.
MOG really need a farmout and confirmed drilling before the sp is going anywhere.
MOG Price at posting:
5.5¢ Sentiment: None Disclosure: Not Held
